Law firm Schulte Roth & Zabel has named Nicholas Fagge and Kerrie Walsh partners in the firm’s London office. Fagge and Walsh, who both joined the London office when it opened 10 years ago, are part of a team of senior hedge fund lawyers.

Fagge advises investment management clients on the structuring of UK management companies, covering all relevant partnership and tax issues, and more widely on UK and international tax issues relating to the taxation of private investment funds, their investors and managers as well as seed capital transactions. Fagge also advises on mergers and acquisitions, including transactions involving managers.

Walsh focuses her practice on U.S. and UK financial services law and regulations affecting investment managers and investment funds, including the formation of hedge funds, funds of funds, hybrid funds, activist funds and management companies.

“These promotions reflect our view of the strategic importance of London to our global investment management practice and our dedication to the investment fund industry overall,” said Steven Fredman, co-chair of the firm’s investment management group.

SRZ’s London practice was formed in 2002. The firm brings extensive experience in alternative investment funds to bear on major fund launches, and when advising U.S. funds on the formation of London offices and European managers opening U.S. outposts.

Christopher Hilditch, partner and head of the London practice, said: “Particularly, fund managers need to consider the UK and U.S. implications of structuring and managing funds, and our top-tier hedge fund practice in the two major financial jurisdictions, New York and London, make us the only law firm to offer seamless transatlantic services.”

From the current issue of

The ratio calendar combination spread couples two ratio calendar spreads, one using calls and the other using puts. The call strike prices are higher than the put strike prices. This strategy is complex and profit is limited, but if a high amount of time value is involved in the short positions, that profit can be substantial and risk is still limited.